ABC Corp had the following inventory transactions for the month of December 20X5

Date transaction type amount (units) price per unit

Dec1 opening balance 400 $5.12

Dec3 purchase 1100 $5.23

Dec15 purchase 900 $5.48

Dec22 purchase 250 $5.66

Dec2 sales 300 $6.50

Dec 6 sales 800 $6.50

Dec 18 sales 700 $8.00

Dec25 sales 150 $8.00

What is the value of the inventory held by ABC as at December 31 20X5 if the company values its inventory using the weighted average cost formula and uses a perpetual inventory system?

Round all calculations to two significant decimal places for example $5.66.